Denver teachers agreed to a contract revision because of recent economic turmoil, approving a 2.5 percent cost-of-living raise and a 1.65 percent stipend if the economy improves.

Teachers agreed to rip up the contract approved last year that gave them a raise based on the rate of inflation plus 0.25 percent, which this year meant a 4.15 percent increase.

The contract changes are retroactive to Sept. 1.

About 1,700 members of the Denver Classroom Teachers Association voted through last week on whether to approve the revision — with 92 percent voting to ratify the change that will affect 4,500 teachers. Votes were counted on Friday.

The teachers will get a 1.65 percent one-time bonus if the state allows the district to retain $10.5 million that is being held in a reserve.